Updating time : WEEKLY TECHNICAL OUTLOOK ON USD/JPY

USD/JPY - 114.68...Although dlr's selloff fm 117.95 (Oct high) to 113.25 confirms the correction fm 07' low at 111.60 has ended there, subsequent choppy trading abv 113.25 suggests further sideways consolidation is likely to continue n as long as last week's high at 115.93 holds, downside bias remains for weakness twd said nr term key sup, a break there anytime wud encourage for a swift fall twd 112.60 where a daily close below there wud be the final confirmation MT downtrend fm 07' top at 124.14 has resumed n yield re-test of 111.60.

Today, trading fm short side in anticipation of further weakness to 114.00/10 target is favoured, however, in view of the volatile price action last week, wud be prudent to take profit on such decline as sup at 113.25 shud hold.

In the event dlr rises abv Friday's high at 115.44, then present bearish scenario wud be aborted as risk is seen for another rebound twd 115.93 but only a break there wud shift risk to upside for a stronger retracement of aforesaid fall fm 117.95 n yield further headway twd 116.15/25 but reckon 117.00/05 wud cap upside...

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